What does incurring something mean?
What does incurring something mean?
Definition of incur transitive verb. : to become liable or subject to : bring down upon oneself incur expenses.
What does it mean to incur a charge?
to lose money, owe money, or have to pay money as a result of doing something. incur costs/expense/expenses: She may have to meet any costs incurred as a result of the delay.
What does incur debt mean?
Related Definitions Incurred Debt means any Indebtedness for borrowed money the Company incurs after the date hereof in one transaction, or in a series of related transactions, having an aggregate principal amount in excess of $25,000,000.00.
What is incurring debt?
General Definition “Incur” means to take on or to accept liability or responsibility for something. A debt usually refers to an amount of money owed. Incurred debt is a debt you have acquired for which you are responsible.
Is incurred a liability?
Defining Incurred Based on the definitions above, it appears that “incurred” refers to becoming liable or subject to an obligation, be it a claim, a loss, an expense, or another legal obligation. In other words, there has to be a real legal obligation or liability, not a theoretical or expected obligation or liability.
What does incurring debt date mean?
Incurred or Incurred Date With respect to a covered expense, the date the services, supplies or treatment are provided. Incurred or Incurred Date: The actual date a specific service is rendered or the supply is obtained.
When should you incur debt?
People incur debt any time they make a purchase they cannot immediately pay in full. People may take on the most debt early on in life, because they have not established a savings large enough to cover their needs. However, unexpected life changes or events may necessitate incurring debt at any point.
What is incurring interest?
Incurred Interest means, for the Company for any Test Period, without duplication, the aggregate amount of all interest paid, accrued or capitalized during such period, excluding loan fees.
When was debt incurred?
Incurred Debt means any Indebtedness for borrowed money the Company incurs after the date hereof in one transaction, or in a series of related transactions, having an aggregate principal amount in excess of $25,000,000.00.